State of Idaho Archives: on Budget & Economy

Nels Mitchell:
No silly votes to shut down government; no budget blackmail

I said when I announced yesterday that I'll go back to Washington and work for Idaho. I won't be an automatic vote for anyone or anything, unlike Mr. Risch who shields his lack of accomplishment in the Senate by voting NO on virtually everything and by
offering no real solutions of his own. In particular, he has done nothing to promote job growth in Idaho.

Unlike Mr. Risch, I won't cast silly votes to shutdown our government; I won't use budget blackmail to harm Mountain Home Air Force Base or the
INL, and I won't concentrate on Syria and Kazakhstan at the expense of Kootenai or Canyon County.

This election is about the record of a life-long politician who has held elected office for nearly 40 years and, in an entire term in the U.S. Senate,
has not one major thing to show as an accomplishment for Idaho's families. The only desperation here is Mr. Risch's as he struggles to hold on to the job that pays him $174,000, one he recently said was so easy he could do it permanently.

Butch Otter:
State government should never grow as fast as our economy

I'd like to talk with you about the proper role of government in terms of the next generation--not just the next election--in order to build a more responsible, sustainable and inclusive future. We all want an Idaho where government wisely uses the
people's resources to provide the public services and infrastructure needed for our citizens' safety, health and security. And as other institutions & states struggle and often fail to find fiscal balance, we all understand that our responsibilities must
be met within the people's means. I hope you share my commitment to ensuring that our State government never grows as fast as our economy and the people's ability to pay for it. So with that as a starting point, I am submitting a budget recommendation
today calling for a 3.1% increase in General Fund spending. That reflects slow but steady growth in our economy--an estimated 5.3% revenue increase for fiscal year 2014. It also reflects great uncertainty due to irresponsible federal leadership.

Source: Idaho 2013 State of the State Address
Jan 7, 2013

Butch Otter:
Great Recession shows need for building Rainy Day accounts

It is with our future in mind that my budget recommendation for fiscal 2014 builds on the great work you have already done in starting to refill our rainy day accounts. As you know, we are putting a total of almost $71 million in the Budget and
Public Education stabilization funds by the end of this fiscal year. For next year I'm calling for that effort to continue as a hedge against national and global economic and fiscal uncertainty. The Great Recession showed us beyond any doubt the
value of maintaining a healthy financial reserve. As much as any other factor, it set Idaho apart from most other states in response to tough times.
We must exercise foresight and frugality while working to sustain and grow our economy. Building up our rainy day funds provides the kind of budget stability that Idaho taxpayers need and expect.

Source: Idaho 2013 State of the State Address
Jan 7, 2013

Jim Risch:
Bailout plan needs more protection for taxpayers

Risch hates the $700 billion bailout plan, saying, “It didn’t provide enough protection for taxpayers, there was not nearly enough reform in the bill to keep this from happening again, there were no provisions to really go and get after the bad guys that
caused this, and lastly and to add insult to injury there were billions of dollars of pork hung onto a bill that was incredibly important to the United States of America.”

LaRocco said he would have voted for the bailout bill because it’s about small
companies having the capital and credit to buy a truck or inventory, and because the final version had oversight and taxpayer protections.

LaRocco and Risch agreed that lax regulation led to the economic meltdown. Rammell said overregulation caused
the economic disaster. “Fannie and Freddie were required by law to give 42% of their loans to low- and moderate- and high-risk individuals. If we truly lived in a free market economy nobody would have made these high-risk loans. Nobody.”

Larry LaRocco:
Bailout plan needed to get credit for small companies

Risch hates the $700 billion bailout plan, saying, “It didn’t provide enough protection for taxpayers, there was not nearly enough reform in the bill to keep this from happening again, there were no provisions to really go and get after the bad guys that
caused this, and lastly and to add insult to injury there were billions of dollars of pork hung onto a bill that was incredibly important to the United States of America.”

LaRocco said he would have voted for the bailout bill because it’s about small
companies having the capital and credit to buy a truck or inventory, and because the final version had oversight and taxpayer protections.

LaRocco and Risch agreed that lax regulation led to the economic meltdown. Rammell said overregulation caused the
economic disaster. “Fannie and Freddie were required by law to give 42% of their loans to low- and moderate- and high-risk individuals. If we truly lived in a free market economy nobody would have made these high-risk loans. Nobody.”

Rex Rammell:
Over-regulation caused the economic disaster

Risch hates the $700 billion bailout plan, saying, “It didn’t provide enough protection for taxpayers, there was not nearly enough reform in the bill to keep this from happening again, there were no provisions to really go and get after the bad guys.”

LaRocco said he would have voted for the bailout bill because it’s about small companies having the capital and credit to buy a truck or inventory, and because the final version had oversight and taxpayer protections.

LaRocco and Risch agreed that lax
regulation led to the economic meltdown. Rammell said overregulation caused the economic disaster. “Did you know that Fannie and Freddie were required by law to give 42% of their loans to low- and moderate- and high-risk individuals.... All I hear now
is we need more regulations that’s exactly the opposite of what we need. If we truly lived in a free market economy nobody would have made these high-risk loans. Nobody. The banks wouldn’t have done it and the people wouldn’t have dared do it.”